High prices reducing India’s corn exports
Corn exports from India have plummeted recently as domestic prices have surged due to strong demand from the country’s poultry and ethanol industries, Reuters reported, citing several exporters. The sources told Reuters that traditional importers of Indian corn, such as Vietnam, Nepal and Malaysia, have shifted their purchases to South American countries that are offering it at a lower price. They said Indian corn costs about $300 per tonne, compared to $230 per tonne in South American countries.